overdraft

American  

[oh-ver-draft, -drahft] / ˈoʊ vərˌdræft, -ˌdrɑft /

noun

1. an act or instance of overdrawing a checking account.

2. a check overdrawn on a checking account.

3. the amount overdrawn.

4. an excessive drawing on or drawing off of something.

5. a draft made to pass over a fire, as in a furnace.

6. a draft passing downward through a kiln.

7. Metalworking. a tendency of a rolled piece to curve upward after passing through a stand, occurring when the lower roll is faster than the upper.

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overdraft British  

/ ˈəʊvəˌdrɑːft /

noun

1. a draft or withdrawal of money in excess of the credit balance on a bank or building-society cheque account

2. the amount of money drawn or withdrawn thus

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overdraft Cultural  

1. The amount by which a check exceeds the funds on deposit to cover it.

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Etymology

Origin of overdraft

First recorded in 1875–80; over- + draft

Example Sentences

Not all banks tell a customer in advance that their credit limit is being cut unless it leads to an overdraft fee or some other fees associated with the credit card.

From MarketWatch

Sarah Daniels was constantly in her overdraft after losing her job due to ill health in 2024, eventually ending up £5,000 in the red.

From BBC

When she joined the church, she was using her overdraft, which she says three church members knew about.

From BBC

When credit options contract, households are forced to turn to riskier alternatives with higher overdraft and late fees and less transparent pricing.

From Barron's

But many of these services automatically draft payments from customer bank accounts, which can result in overdraft fees.

From The Wall Street Journal

Related Words

• default
• disaster
• failure
• insolvency
• liquidation
• loss